Thinking of selling up but what about Brexit?

Jon5321

Im thinking of selling up and moving into rented accomodation for a bit as I need to generate some capital. I was a cash buyer so no issues with morgages etc.

I know no one has a crystal ball but Should I sell up before brexit happens or do you think brexit will not make much difference for the first couple of years?

00ec25

have you tried the search function, it will be more use than your crystal ball, there are dozens of posts from people playing Brexit guessing games

https://forums.moneysavingexpert.com/discussion/5800854

https://forums.moneysavingexpert.com/discussion/5779942

https://forums.moneysavingexpert.com/discussion/5492951

Pixie5740

There's a whole section of the forum dedicated to debating house prices and the economy.

Thrugelmir

Jon5321 wrote: »

Im thinking of selling up and moving into rented accomodation for a bit as I need to generate some capital. I was a cash buyer so no issues with morgages etc.

Then do what's right for you. Little point in worrying about what may or not happen in the future. As more than likely it will be the result or outcome of a yet unforeseen event.

davidwood681

Won't make a difference.

lincroft1710

Following Brexit, house prices will drop by at least 50%, crops will fail, there will be plagues of locusts and Barnet will win the FA Cup

Crashy_Time

Sell before interest rates start going up.

sleepymans

errrrrrr.....do whatever suits your personal circumstances.....brexit??? pouff!!

buggy_boy

Really depends what you are going to do with that money.... But this really should be in the debate house prices forum.

Fosterdog

Crashy_Time wrote: »

Sell before interest rates start going up.

Pointless advice for a cash buyer, rising or fluctuating interest rates won't make any difference to OP, unless of course they sell their house but then get stuck in a rental where the landlord's mortgage skyrockets leading them having to raise the rent to meet payments.

Mutton_Geoff

Crashy_Time wrote: »

Sell before interest rates start going up.

Or do what most people do and ignore Crashy. I bought my first flat in SW London in 1980 for £19,950 with 100% borrowing (90% LTV plus a bank loan for the deposit). (It's worth over £300k now but I have moved onwards and upwards since). I have lived through mortgage interest rates as high as 15% in the 1980s and have survived.


We live on an island with limited space and draconian planning laws and a population that is increasingly led to wanting their own home whilst still single.


Lack of supply and high demand still pushes prices up. Take a look at places like Hong Kong, Singapore and Tokyo where there is a serious lack of space to build and see how property prices vs income looks compared to the UK. It's still pretty cheap here.


Crashy likes to think otherwise as I believe he's missed the boat and still kicking himself. I have invited him to post his own situation but so far nothing, so please feel free to ignore and buy your home as and when it suits you. Ride out any financial storms knowing you are secure in your own home, not an investment property.